Emera Wisely Sells No-Moat Northeast Generation Assets
We are reaffirming our CAD 46 fair value estimate and narrow moat and stable moat trend ratings for Emera after the company announced an agreement to sell 1,100 megawatts of Northeast generation facilities for $590 million.The sale of Bridgeport Energy, Tiverton Power, and Rumford Power to the Carlyle Group exits Emera from the merchant power business. The sale price of $516 per kilowatt is in line with what Emera paid for the assets five years ago and consistent with our valuation. Management...
Emera is an energy and services company which invests in electricity generation, transmission and distribution, gas transmission and utility energy services. Co. had six segments: Nova Scotia Power Inc., an electric utility and electricity supplier in Nova Scotia; Emera Maine, which provides electric transmission and distribution services in the U.S.; Emera Caribbean, which includes Emera (Caribbean) Incorporated and its subidiaries; Pipelines, which includes Emera Brunswick Pipeline Company Ltd. and an equity investment in Maritimes & Northeast Pipeline; Emera Energy, which includes Emera Energy Services that provides energy management services; and Corporate and Other.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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